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LAWS OF NOnTH-CAROLINA. U
i'lereby are made able, and capa^-le, >n law. tu have, purchasCi A.B.t82i.
rec'ive a^d e.ijoy to themselves, and their success ts. such -i
b ats and vesselss, aii«1 tueir tackle ami appirel, machijierv urid
other arricles, necej^ary an<l propei for the nbjects of their ere- "ow*>t».
ation ; a^.d to sell and disi)<i>e of the san^e. to sue and be sued,
ioiplf^ad and be liopleaded, deleod and be defetsded, in Courts
of R- cord, or any «»thcr place whatsoever ; aid also tt» ordaio,
estatili hj and put in execution, such bye-laws, ordinances, and
regulations, as shall seem necessary for the government of i^aid
corptiiation. For the well ordering; of the affairs "f said c«r Election «iJ"
poraiion, there shall be five directors elected yearly by the stock- offiecrs.
holders, at a general meetiog; to be held at the Court House in
Newbern, on the first Monday in Janaary of each year; PrO"
vided. That if it at any t:me happen that an election ol dlieclors
should not be made at the time aforesaid, tite directors last ap-pointed
shall continue in office until an election shall ^e regu-larly
held, as herein required—said Directors shall havt- p« wer
to fill up any vacancy that may happen in their body ; to elect
one of their own body as President for one year, to appoint
such officers and servants as they ruay think propei, to take
such Bonds for the faithful discharge of their duty,H* said Pres-ident
and Directors may think proper, and, at theii pieasuie,
such fficers and servants to reioove ; and all meeting* of the
at tckholders of said cooipany shall be held ir. N-wbe«n: At
all meetings, each stockholder shall be rtuowed one vote for eve-ry
share of stock owiled by him—.any stocknoldei may vote by
proxy, constituted under his hand. While the vvnole stock is
unsubscribed, said President and Directors oiay at any time
open books for further subscriptions f stock, upon such terms
as they may deem right. Simres shall be transferarde as the
stock!>olilers may direct, and may be foifeited and sold for non- Shares traji?.
compliance with the oye-iaw-. ^f the company, by order of the ^'^'''^^^''*«
President and Directors. All shares suliscribed tor, shall be
made payable at such times, and in such instalments, as the
President and Directors shall ordain, direct and require.
II. Be itfurther enacted, That said company, their agents or (^Q,„pj„y ^„
servants, shall have power and authority, by any vessi'ls.m;^ thorised to
cliines -r labourers, to v.'ork upon the swash of Blair's Chan work upon
ncl, in Painptico Sound, and to remove or reduce the saiti
J'^^**,"*'^
^jj*
swash : and when they *hall by their labors have deepened the
\vater so that vessels di awir-g seven feet water Citn pass ver
said swash atid through said Channel, said company shal have
power to demund and collect a toll on all ve8«-els passsirgthe
same, at the follctwing rates; vessels wt^ose burthen shall be R*tc9 of toll,
between TO and 85 tons inclufive. for every inch ot their daft
of water above seven leet, 75 cents ; between 85 and 95 tons
inclusive, for every inch above the same draft, one doila- ;be'ween
95 and 110 tons inclusive, for every n.ch above the same <iratt,
one dolUr thirty cents ; between 1 10 and 125 tons inclu-»ive, for
every inch above the same draft, oni- (.«dlai tiltv cents ; betw^-en
J!2fi>and ISO tons inclusive, for every inch above the same draft^

LAWS OF NOnTH-CAROLINA. U
i'lereby are made able, and capa^-le, >n law. tu have, purchasCi A.B.t82i.
rec'ive a^d e.ijoy to themselves, and their success ts. such -i
b ats and vesselss, aii«1 tueir tackle ami appirel, machijierv urid
other arricles, necej^ary ant».
ation ; a^.d to sell and disi)e of the san^e. to sue and be sued,
ioiplf^ad and be liopleaded, deleod and be defetsded, in Courts
of R- cord, or any «»thcr place whatsoever ; aid also tt» ordaio,
estatili hj and put in execution, such bye-laws, ordinances, and
regulations, as shall seem necessary for the government of i^aid
corptiiation. For the well ordering; of the affairs "f said c«r Election «iJ"
poraiion, there shall be five directors elected yearly by the stock- offiecrs.
holders, at a general meetiog; to be held at the Court House in
Newbern, on the first Monday in Janaary of each year; PrO"
vided. That if it at any t:me happen that an election ol dlieclors
should not be made at the time aforesaid, tite directors last ap-pointed
shall continue in office until an election shall ^e regu-larly
held, as herein required—said Directors shall havt- p« wer
to fill up any vacancy that may happen in their body ; to elect
one of their own body as President for one year, to appoint
such officers and servants as they ruay think propei, to take
such Bonds for the faithful discharge of their duty,H* said Pres-ident
and Directors may think proper, and, at theii pieasuie,
such fficers and servants to reioove ; and all meeting* of the
at tckholders of said cooipany shall be held ir. N-wbe«n: At
all meetings, each stockholder shall be rtuowed one vote for eve-ry
share of stock owiled by him—.any stocknoldei may vote by
proxy, constituted under his hand. While the vvnole stock is
unsubscribed, said President and Directors oiay at any time
open books for further subscriptions f stock, upon such terms
as they may deem right. Simres shall be transferarde as the
stock!>olilers may direct, and may be foifeited and sold for non- Shares traji?.
compliance with the oye-iaw-. ^f the company, by order of the ^'^'''^^^''*«
President and Directors. All shares suliscribed tor, shall be
made payable at such times, and in such instalments, as the
President and Directors shall ordain, direct and require.
II. Be itfurther enacted, That said company, their agents or (^Q,„pj„y ^„
servants, shall have power and authority, by any vessi'ls.m;^ thorised to
cliines -r labourers, to v.'ork upon the swash of Blair's Chan work upon
ncl, in Painptico Sound, and to remove or reduce the saiti
J'^^**,"*'^
^jj*
swash : and when they *hall by their labors have deepened the
\vater so that vessels di awir-g seven feet water Citn pass ver
said swash atid through said Channel, said company shal have
power to demund and collect a toll on all ve8«-els passsirgthe
same, at the follctwing rates; vessels wt^ose burthen shall be R*tc9 of toll,
between TO and 85 tons inclufive. for every inch ot their daft
of water above seven leet, 75 cents ; between 85 and 95 tons
inclusive, for every inch above the same draft, one doila- ;be'ween
95 and 110 tons inclusive, for every n.ch above the same and ISO tons inclusive, for every inch above the same draft^